By Devika Patel
Knoxville, Tenn., March 5 – Solar3D, Inc. priced a $12.45 million public offering of units on March 4, according to an 8-K and prospectus supplement filed Thursday with the Securities and Exchange Commission. The offering was announced March 3.
The company will sell 3 million units of one common share and one warrant at $4.15 per unit. Each warrant will be exercisable at $4.15 until March 9, 2020. The strike price is a 33.87% premium to the March 3 closing share price of $3.10.
Cowen and Co., LLC is the bookrunning manager.
Settlement is expected March 9.
Proceeds will be used for general corporate purposes, including expanding the company’s products, investments in infrastructure and general working capital purposes.
The solar power provider is based in Santa Barbara, Calif.
| Issuer: | Solar3D, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $12.45 million
|
| Units: | 3 million
|
| Price: | $4.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | March 9, 2020
|
| Warrant strike price: | $4.15
|
| Bookrunner: | Cowen and Co., LLC
|
| Announcement date: | March 3
|
| Pricing date: | March 4
|
| Settlement date: | March 9
|
| Stock symbol: | OTCBB: SLTD
|
| Stock price: | $3.10 at close March 3
|
| Market capitalization: | $40.86 million
|
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